Secular Clergy New Common Fund
Accounts for year to 31[st] December 2023
Registered charity 21776
Secular Clergy New Common Fund
Auditor’s report
I have examined the accounting records and also the statement of financial activities and the statement of the financial position of the Secular Clergy new Common fund (the charity) for the year ended 31s December 2023.
In my opinion the financial statement gives a true and fair view of the state of the Charity’s affairs as 31[st] December 2023 and of the operation of the fund for the year then ended.
(signed)
J.W. Coote Honorary Auditor
Secular Cle New Common Fund isttrcd Cb#ri 21777 TheTruste¢s art.. Monsignor Nicholas Rothon- ChiefAdministrator Monsignor Kevin Hale Monsignor Jonathan Martin Canon Michale O'Dea Can<xt Jolln C<x)k Foth¢r Groham Stok¢5 Th¢ address of th¢ Charity 15 5, Cresswell Park Blackheath London SE3 9RD Th¢ fund wa5 esrablisha in 1803 to provide financial assistance to aged. sick and infirni Catholic Clergy of what ai the time known as the London Districi and now comprises the Catholic Diocexs of WestminsteT, Southwark, Arundel gmd Brighton. BreniwOj and Portsmouth. Membership of the fund is open io priests of the above Diocese The Trustees are elected by members at a genernl meeting. They aTe known 4$ the adminisirdiors of the fund and comprise a chief administrntor and on adrninistrator from each of th¢ five Dioceses. The income of the fund ¢omes from inv¢sttn¢nt dividends and capital gains. from dotwions fn)m members of th¢ fund Hnd fkom l¢ga¢i¢s. Th¢ fund Mak grants lo retired priests and sick priests who have srrtial needs. Ai pres¢trt Ihe annual grant for reiired priests is £700. Granis ar¢ made at ihe disGr¢lion of the ministraiors. The policy of the fund i5 to distribut¢ all available inoorne. In some years ihere is a shortfall b¢tw¢¢n income and expendsture bul in the longer tem? this isc4)vered by capi1 gains on the investment portfolio. The capithl of the fund is investe41 in the Barclays Chariiy Fund. Over th¢ y¢ar5 this fund ha5 provided a gwd and 5Ure level of income for many Charities. With th¢ rurrent l¢vel of income ih¢ fvnd does not require a fomial audit and a ]tport on the a¢count5 has bEen prepared by a qualifi¢d iDd¢pend¢nt examiner. Nichola5 Rothon Trusoe.
Secular clergy new Common Fund
Accounts year to 31st December 2023
| Capital acccount - Barclays bank | ||
|---|---|---|
| 1157821. | ||
| opening balance | 01 | |
| 1223634. | ||
| closing balance | 35 | |
| capital gain for year | 65813.34 | |
| Income and expenditure account | ||
| Income | ||
| Interest | 223.61 | |
| Investment income | 36280.03 | |
| legacies | 2000 | |
| refunds | 2800 | |
| donations from members | 6344.09 | 47647.73 |
| Expenditure | ||
| bank charges | 114.5 | |
| salary for bookeeper | 3240 | |
| admin costs | 380.99 | |
| grants to members | 84700 | 88435.49 |
| excess of ordinary expenditure over income | 40787.76 | |
| 101449.7 | ||
| cash in hand at beginning of year | 8 | |
| 1157821. | 1259270. | |
| investment valuation at beginning of year | 01 | 79 |
| cash in hand at end of year | 60662.02 | |
| 1223634. | 1284296. | |
| investment value at end of year | 35 | 37 |
| balance sheet gain for fund | 25025.58 | |
| reconciliation | ||
| capital gain - less | 65813.34 | |
| income and expenditure defcit | 40787.76 | 25025.58 |
1284296 .37
Total value of fund at 31st December 2023